The Ministry of Science and ICT in South Korea held the 7th meeting of the Special Committee on Carbon Neutrality Technology, announcing the policy direction for technology development in carbon neutrality. The committee presented four agenda items: the selection of 100 key technologies, an innovation roadmap for the petrochemicals, steel, and cement sectors, strategies for fostering digital-based carbon footprint verification technology, and the Third Comprehensive Plan for the Management and Improvement of Carbon Sink.
The report emphasizes business opportunities for foreign companies in South Korea, particularly in carbon capture, eco-friendly vehicles, carbon-neutral ships, zero-energy buildings, and environmental technologies. The government aims to bridge technology gaps by supporting rapid catch-up and internalization in sectors like carbon capture and transportation. Additionally, comprehensive consideration has been given to selecting emerging gap technologies for long-term development in the building and environment sector.
To foster voluntary industry participation, the Carbon-Neutral Technology Innovation Roadmap has been collaboratively developed, involving industry associations and direct involvement from companies. The roadmap focuses on mission-oriented innovation with 100 selected technologies as its core. Notably, the petrochemicals sector aims for eco-friendly process innovation, while the steel and cement sectors seek to reduce carbon emissions and transition to low-carbon alternatives.
The strategy for fostering digital-based carbon footprint verification technology focuses on measurement improvement, security enhancement, support systematization, and government support infrastructure. These efforts aim to alleviate the burden of carbon emission measurement for companies and position South Korea as a leader in carbon footprint verification technology.
Foreign companies have significant opportunities to contribute their expertise to South Korea's carbon neutrality agenda. Collaboration with Korean entities can facilitate technology transfer and support the development and implementation of sustainable solutions. The Korean government's commitment to strategic investment in R&D and the establishment of phased roadmaps provide a conducive environment for international partnerships.
Overall, South Korea presents a favorable market for foreign companies to participate in carbon neutrality initiatives and leverage their expertise to drive innovation and sustainability in key sectors.
